Joe Terranova
EQT Corporation
EQT-N
BUY
Jun 21, 2023
Energy has been the worst sector YTD and QTD, but he remains long energy. The fundamentals are in place. Natural gas is up 16% this quarter, though -70% from last year's high, but we seeing a bottoming in, which is why he bought EQT in the low-$30s and is approaching $40 now. Nat gas may be a better trade than crude oil.
One of the world's largest natural gas producers. Current nat gas prices are weak, but long term they are rising. Any price spike this summer will benefit EQT.
(A Top Pick May 18/23, Up 20.7%)Stockchase Research Editor: Michael O'Reilly
Our PAST TOP PICK with EQT has achieved its target at $44.50. To remain disciplined, we recommend covering half the position at this time and trailing up the stop (from $37) to $40.
(A Top Pick May 18/23, Up 8.5%)Stockchase Research Editor: Michael O'Reilly
Our PAST TOP PICK with EQT has triggered its stop at $40. To remain disciplined, we recommend covering the position at this time. When combined with the previous recommendations, this will result in a net investment gain of 14%.
Natural gas prices are rallying to 52-week highs on a projected cold winter ahead
Nat gas is an opportunity. We're working off existing inventories and excess supply. Also, nat gas feeds the insatiable demand for energy that's used by data centres.
Natural gas is enjoying strong demand from data centres and the cold weather. EQT is a big player that reported a beat today with a solid full-year forecast. But what happens after this winter and with Trump's pro-drilling policy?
Energy has been the worst sector YTD and QTD, but he remains long energy. The fundamentals are in place. Natural gas is up 16% this quarter, though -70% from last year's high, but we seeing a bottoming in, which is why he bought EQT in the low-$30s and is approaching $40 now. Nat gas may be a better trade than crude oil.